It is the ‘beyond our control’ part of that statement that suggests when you pull back the sheets – you are not excited about what you see!įTX’s CEO Sam Bankman-Fried (SBF) saying and I quote “I f* ed up” as he begged his backers to help out. “In the beginning, our hope was to be able to support FTX’s customers to provide liquidity, but the issues are beyond our control or ability to help.” Word that cryptocurrency exchange FTX was circling the drain only adding to the angst – Binance – (another crypto exchange) walked away from a deal to rescue FTX – leaving FTX with an $8 billion ‘liquidity’ problem – in fact, this statement about says it all.
In the end – just like 2020 – a GA runoff in early December will seal the deal – so in reality we won’t know what the final tally is until that runoff vote.Īnd while markets opened weaker in the morning – something that was not necessarily a surprise – they got even weaker as the sun moved across the sky…and day turned to night. And to make it even more dramatic – some of those states can’t finish counting ballots fast enough and have warned that it could take ‘days’ as mail in ballots are still being counted and will still be counted if delivered by Saturday as long as they have a post office stamp dated November 8th. Now while the GOP appears to be taking control of the house – the Senate is very much in flux….GA is official – they are going into a runoff on December 6th, AZ, NV and WI remain 3 of the wildcards that will upend the complexion of the US gov’t for the next 2 yrs.
We have an election which has come down to 4 states And while we knew that some of the races were close – the polls suggested one thing and reality produced something very different. highs and likely NOT going lower anytime soon, we have a FED that completely dropped the ball and is now forced to ‘overreact’ in order to try and tame inflation, we have political division – the likes not seen in my lifetime (61 yrs.), we have an open border that has seen millions just walk across the Rio Grande and ‘become American citizens’. OUCH! Stocks took a beating on Wednesday – after the election produced less than spectacular results….the Tsunami turned into a ripple and some of the winners in this race reflect a country that is not only deeply divided but can’t seem to get out of its own way….Here we have the economy in a tailspin, we have inflation at 40 yr. Try the Seared Scallops Bathed in Vermouth. GOP takes the House, the Senate still in limbo and will remain so until early December.įTX circles the drain and has an $8 billion ‘issue” – will this change the narrative at the FED? Stocks got walloped, election confusion and a meltdown in the crypto world.Ĥ states hold the country hostage- AZ, NV, WI and GA.
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